Areas which often cause Tenants concern and which can be clarified during negotiation and then in the lease are:
Repairs – What is the Tenant responsible for repairing and to what standard? The ‘usual’ repairing obligation is often more onerous than one might think.
Break – Can the Tenant or the Landlord end the lease early? How much notice has to be given and are there any conditions attached?
Renewal – Will there be any statutory or contractual renewal rights for the Tenant when the lease ends?
Disposal – What are the restrictions on assigning or selling a Lease?
Guarantors/Rent Deposits – Does the Landlord require the Tenant to provide a guarantor or deposit to secure its obligations under the lease?
Statutory Requirements – Are all statutory requirements complied with? Who is responsible for costs if they are not?
Planning – Does the property have the correct planning use for the Tenant’s business?
If you are thinking of becoming a Commercial Tenant or you are already aTenant who wants to sell or assign please do contact us.
Head of Commercial